Solar Panel Cost Guide in Parkman, OH (2024 Update)
- Parkman Solar Installation Cost: $18,571
- 25-Year Savings: $12,849
- Payback Period: 17.3 Years
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Average Cost of Solar Panels in Parkman
See how much it might cost to go solar in Parkman.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Parkman, the average cost of a solar system is 3 per watt.To cover the typical energy usage of the average home in Parkman, most homeowners require a 7.8-kilowatt system. Using the per-watt figure above, a solar installation costs around $18,571, or $26,557 before the federal solar tax credit of 0 is applied.
These figures are just averages, and the cost of going solar for you will most likely look different based on your energy needs and what company you choose to go with.Many homeowners find adopting solar power is a rewarding investment. The average homeowner in Parkman can save about $13,000 on their electricity bills over 20 years.
To see your potential savings and connect with a local solar installer, click the button below.
Solar savings over time in Parkman
| Year | Return on Investment |
|---|---|
| 1 years | $-17,331 |
| 3 years | $-14,850 |
| 5 years | $-12,369 |
| 7 years | $-9,888 |
| 9 years | $-7,408 |
| 11 years | $-4,927 |
| 13 years | $-2,446 |
| 15 years | $35 |
| 17 years | $2,515 |
| 19 years | $4,996 |
| 21 years | $7,477 |
| 23 years | $9,958 |
| 25 years | $12,438 |
Top Solar Installers in Parkman
When going solar, many homeowners opt to hire a solar installer since DIY solar panel installation can be a time-consuming project. A solar installer can also help save you money over time by providing warranties, repairs and system component replacements.
You can get a free quote from a local solar installer on how much solar panels could cost for your home. Here are some nearby:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
See all of the solar companies in Parkman
Factors that Affect Solar Panel Costs in Parkman
The cost of installing a solar system in Parkman can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The most significant one is the size of the system you need, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
One of the most important factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household consumes, the larger your system will likely need to be. You can expect to spend around $3,410 per kilowatt in Parkman.Some solar panel brands — like Maxeon from SunPower — cost more upfront but also tend to offer higher efficiency. In a city like Parkman, where sunlight isn’t as abundant, efficiency can quickly pay off. In addition, if you have a small roof or limited space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Most solar installers in Parkman provide solar loans, which reduce your upfront costs of installing a solar system.You’ll have to consider the long-term cost of financing options, including the total interest you’ll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or getting a solar loan with a low interest rate could reduce your costs considerably.
Solar Panel Installation Company
A final consideration when trying to estimate the cost of solar for your home or business in Parkman is the company you choose to install your PV system. Similar to choosing a company to renovate your kitchen, for example, there’s no shortage of solar installers that provide a range of services for different budgets.Larger national companies generally have lower costs, but some local companies compete with them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or extra services like electric vehicle charger installation, they might be cheaper overall.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.55 | $14,895 | $5,766 | 18.0 years |
| 8 kW | $3.48 | $19,478 | $8,070 | 17.7 years |
| 10 kW | $3.41 | $23,870 | $10,565 | 17.3 years |
| 12 kW | $3.34 | $28,071 | $13,251 | 17.0 years |
| 14 kW | $3.27 | $32,081 | $16,128 | 16.6 years |
| 16 kW | $3.21 | $35,900 | $19,196 | 16.3 years |
| 18 kW | $3.14 | $39,529 | $22,454 | 15.9 years |
| 20 kW | $3.07 | $42,966 | $25,904 | 15.6 years |
How to Save on Solar Panels
The solar panel company you opt for will influence not only your total costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are several important things you should consider, such as:
- Solar Panel Brands: Different companies will have different brands and types of panels. If you want a specific brand, make sure the solar panel installer you’re considering has it.
- Reputation: Companies that have been operating for many years likely have a high reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide adequate aftercare and customer support, such as part repairs and replacements.
- Warranty: A quality company stands out from other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Contract: Before you sign a contract with a solar company, be sure to read it through completely so you understand the terms. Also, ask questions if you’re unsure about some of the terms, such as what the warranty covers and what services you can expect from them.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
EcoWatch's Parkman, OH Solar Cost FAQs
How much does it cost to install solar panels in Parkman?
This is a hard question to answer exactly, because the cost depends on many factors. Broadly speaking, it costs about $17,050 for a 5-kW system and $34,100 for a 10-kW system after the ITC is applied. It will cost more if you want additional solar equipment or more efficient panels, or if you have higher-than-average energy needs. Conversely, you can spend less if you want a smaller solar panel system or less efficient solar panels.
Is cost the most important consideration when buying solar panels?
Cost is certainly one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Is it worth going solar in Parkman?
Whether or not solar panels are worth it depends on some different factors like the cost of electricity near you and the amount of direct sunlight your roof gets.
How often do you have to replace solar panels?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can decide to replace them once you've had them for that long or you can continue to use them at a lower efficiency.
Our goal is to reach as many people as we can with sensible solutions like solar energy. Our team of full-time local researchers collects solar price and installation data for every city in America then compiles it to create these digestible city guides. If you want to read our solar expert's opinion on the top solar companies featured here, follow this link.
Company research was conducted by Melissa Smith and Karsten Neumeister. Local data analysis was conducted by James Savino. See something we missed or could do better? Email the editor.